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Rsi_oversold

USD/CAD : Bottom ? Buy or breakout ? Hey traders ! **This is a risky trade and I am not taking this trade** Canada interest rate hike have made the CAD much more stronger . If you want to go long on the usd/cad right now , you need to wait for a good confimation . If the trendlines are broke , I think it might go down to the next fibonacci retracement level . Accumulation of : - Fib 38.2 -Fib 50 - RSI oversold - RSI divergence - outside bollingerbands - Daily/weekly trendlines - Support zone Thanks for following me :)
by Foralex
Decision Point on USDCADHey guys, i'm waiting to see how price will react at the retest of the lows here. The situation on the daily is pretty clear, price has had a downward move from long time ago and i'm now expecting a relief rally out of that. Looking left now we have a former suppport zone that could act again in this pair. But since the trend is very strong i want to have a confirmation on lower timeframes like 4h and 1h. Let's see. If you have any question or ideas to share, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
ETHUSD Ichimoku+RSI Neutral-Bull ForeshadowingTrade with care! This is still a bear market, but just as corrections can go down, they can go up. Right now it looks like the market will correct upward, and 330 USD looks like an optimistic target. This still needs to be analyzed over the next few days, but I wouldn't be surprised if a huge rally came up. Sell volume is going down for both ETH and BTC and long positions are coming in. My main telltale-heuristic sign is USDT, which despite the huge selloff is stabilizing at 1:1. Watching it tells me people are slowing down the crash and bulls could make a run. This doesn't mean that the market will have a full reversal. I wouldn't overcommit to this position, but from watching all scales, I think 200 stays the bottomline for the time being. If you ask me, I'm feeling neutral, going from bear to bull.
KRAKEN:ETHUSDLong
by UnknownUnicorn1038536
11
Double Bottom on EURAUD?Hey guys, just wanted to let you know what i'm looking for in the next hours. On EURAUD price is testing a key support level on the daily (in oversold condition) and therefore i can expect market to react at this level. As i go down on 1hr chart i can see there's a double bottom setting up with RSI divergence and this also increase my confidence in this trade. I want to see the next two candles green and then i can short this. Stops below the lows, target1 at retest, target2 to be determined! If you want to ask questions or share ideas, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
6
Double Bottom at Structure?Hey guys, just wanted to let you know what i'm looking for in the next hours. On EURAUD price is testing a key support level on the daily (in oversold condition) and therefore i can expect market to react at this level. As i go down on 1hr chart i can see there's a double bottom setting up with RSI divergence and this also increase my confidence in this trade. I want to see the next two candles green and then i can short this. Stops below the lows, target1 at retest, target2 to be determined! If you want to ask questions or share ideas, feel free to comment below. Otherwise, see you in the next chart!
Long
by Roker1
2
Foot Locker Incorporated (FL) Always Rises When This HappensFoot Locker Incorporated has been in a bullishtrend since 2008. It has however, been moving downward since its most recent earnings call. On multiple occasions through this trend, three of the technical indicators discussed below are at similar or lower levels, than they are now. These instances have resulted in nice short-term gains for the stock. I have laid out the reasons and levels to which the stock may gain while it most likely continues its long-term trend. When we look at technical indicators, the relative strength index (RSI) is at 19.7756. RSI tends to determine trends, overbought and oversold levels as well as likelihood of price swings. I personally use anything above 75 as overbought and anything under 25 as oversold. Currently the RSI oversold. The positive vortex indicator (VI) is at 0.7989 and the negative is at 1.2480. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. The negative value is high, meaning the stock has been moving down, and is continuing to do so. The momentum has begun to slow and the positive value is beginning to move upward. The stock should begin rising soon. The stochastic oscillator K value is 6.2597 and D value is 5.3371. This is a cyclical oscillator that is highly accurate and can be used to identify overbought/oversold levels as well as pending reversals and short-term activity. I personally use anything above 80 as overbought and below 20 as oversold. When the K value is higher than the D value, the stock is trending up. When the D value is higher that the K value the stock is trending down. The stochastic is very oversold. I cannot sit at this level much longer. Once the D value crosses above the K, the stock should begin to rise. SPECIFIC ANALYSIS I have created an algorithm (called the SAG gauge) which signals when stocks are truly overbought and oversold. The algorithm indicates when a particular stock meets multiple criteria which culminates in an oversold or overbought alert. That signal will occur within the next few days. The one more day of gains should create the signal. Because this signal will go off after continued gains, now is the best time to enter a position and take greater advantage of the pending upward movement. Upon back-testing this indicator, it has signaled oversold status 72 times in the history of the stock. Eighty percent of the time the stock gains at least 2.50% over the following 30 trading days after the indicator date. Seventy percent of the time, the stock gains 5% and fifty percent of the time gains 11%. In the history of this stock, it always gains a minimum of 3.64% when the negative VI is at or above its current level at the same time the RSI is oversold at or below its current level. This additional study requires the stochastic to be oversold as it is today too. Thirteen similar occurrences were studied. The median gain for the stock is 10.57% and the gain takes a median of eight trading days to occur. Seven of these instances occurred at the same time the SAG gauge determined the stock to be oversold. The minimum gain for these instances is 9.38% and the median gain is 19.70%. All of these statistical gains happen fast so anticipating the stock to go up and up is not recommended. The maximum movement for this stock could occur within the next 15-25 days. Considering the RSI, VI and stochastic levels, the overall direction favors a move to the upside. Based on historical movement compared to current levels and the SAG gauge, the stock could gain at least 5% over the next 35 trading days if not sooner.
NYSE:FLLong
by StockSignaler
1
Chicago Bridge & Iron (CBI) Could Be In For YUUGE GainsChicago Bridge & Iron Company has been in a long bearish trend since 2014. On multiple occasions through this trend, three of the technical indicators discussed below are at similar or lower levels, than they are now. These instances have resulted in nice short-term gains for the stock. I have laid out the reasons and levels to which the stock may gain while it most likely continues its long-term trend. When we look at technical indicators, the relative strength index (RSI) is at 23.5869. RSI tends to determine trends, overbought and oversold levels as well as likelihood of price swings. I personally use anything above 75 as overbought and anything under 25 as oversold. Currently the RSI oversold. The positive vortex indicator (VI) is at 0.6590 and the negative is at 1.2802. When the positive level is higher than 1 and higher than the negative indicator, the overall price action is moving upward. When the negative level is higher than 1 and higher than the positive indicator, the overall price action is moving downward. The negative value is high, meaning the stock has been moving down, however, it is trending downward. This means the stock has ended its downward trend and should begin to move up soon. The stochastic oscillator K value is 11.3245 and D value is 11.1765. This is a cyclical oscillator that is highly accurate and can be used to identify overbought/oversold levels as well as pending reversals and short-term activity. I personally use anything above 80 as overbought and below 20 as oversold. When the K value is higher than the D value, the stock is trending up. When the D value is higher that the K value the stock is trending down. The stochastic is oversold. The D value is below the K and the stock is beginning to move up. SPECIFIC ANALYSIS I have created an algorithm (called SAG gauge) which signals when stocks are truly overbought and oversold. The algorithm indicates when a particular stock meets multiple criteria which culminates in an oversold or overbought alert. That signal will occur over the next two days. The only thing holding this signal from going off now it continued gains in the stock. Because this signal will go off after continued gains, now is the best time to enter a position and take greater advantage of the pending upward movement. Upon back-testing this indicator, it has signaled oversold status 18 times in the history of the stock. The stock gains at least 0.20% over the following 30 trading days after the indicator date. Eighty percent of the time, the stock gains 3.50% and seventy percent of the time gains 7.25%. In the history of this stock, it always gains a minimum of 1.88% when the negative VI conducts a double cross above its current level at the same time the RSI is at or below its current level. The additional study requires the stochastic to be oversold as it is today. Six similar occurrences were studied. The median gain for the stock is 10.18% and the gain takes a median of 6 trading days to occur. Four of these six instances occurred at the same time the SAG gauge determined the stock to be oversold. The minimum gain for these instances is 6.81% and the median gain is 11.70%. All of these statistical gains happen fast so anticipating the stock to go up and up is not recommended. The maximum movement for this stock could occur within the next 10-15 days. Considering the RSI, VI and stochastic levels, the overall direction favors a move to the downside. Based on historical movement compared to current levels and the SAG gauge, the stock could gain at least 7% over the next 31 trading days if not sooner.
C
by StockSignaler
EURJPY: Looking At An Opposite Breakout The second pair in tonight's video focused on the EURJPY which has been extremely interesting as of late. Although this particular pattern formation traditionally breaks out in the direction of the flag pole. I still have a bullish higher time frame bias on this pair and our currently level of structure offers a low risk opportunity to get involved in an anticipated move retesting our previous structure highs. At the bottom of the chart you'll see that our RSI has gone massively oversold & is now showing bullish divergence. This doesn't make it a no brainer buying opportunity but it does help us build a case for a bullish bias.
Long
by Akil_Stokes
3
EURGBP Medium term support for bullish positionThe EURGBP has just respected a very old and solid looking support level (label A). This level has been respected four or five times since July 2016. This level suggests buying positions. The upper descending trend line (label B) suggests resistance points. Using those levels as entry and exit points with a stop loss just below the lower extended support line (A), suggests a trade with a Risk:Reward of 4:1 Further to this the RSI is suggesting oversold levels and has been relatively accurate combined with the level and trend support and resistance.
Long
by Quadricolor